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Please keep in mind that rolling over assets to an IRA is just one of multiple options for your retirement plan. Each of the following options is different and has advantages and disadvantages and the one that is best depends on your individual circumstances.

Roll assets to an IRA

Leave assets in your former employer’s QRP, if QRP allows

Move assets to your new/existing employer’s QRP, if QRP allows

Take your money out and pay the associated taxes

When considering rolling over assets from a qualified retirement plan (QRP) to an IRA, factors that should be considered and compared between the employer plan and the IRA include fees and expenses, services offered, investment options, when penalty-free distributions are available, treatment of employer stock, when required minimum distributions begin, and protection of assets from creditors and bankruptcy. Investing and maintaining assets in an IRA will generally involve higher costs than those associated with employer-sponsored retirement plans. You should consult with the plan administrator and a professional tax advisor before making any decisions regarding your retirement assets.

Transfer your IRA to Wells Fargo

Do you have multiple Individual Retirement Accounts (IRAs)? You can consolidate IRAs you have at other institutions to your IRA at Wells Fargo. Learn how to transfer an IRA to Wells Fargo.

Learn about Roth IRA conversion

You may gain tax benefits by converting funds from employer-sponsored retirement plans such as a 401(k) into a Roth IRA. Please verify with your plan administrator that your distribution is eligible for a rollover/conversion. Is a Roth conversion right for you?

Short of cash? Be cautious

It may be tempting to pull money out of your 401(k) to cover a financial gap. Or, when you are considering rolling money over from a 401(k) to an IRA, you may wish to roll over only a portion of your retirement savings and take the rest in cash. But do you know the true cost? Use our 401(k) Early Withdrawal Costs Calculator first.

Investment and Insurance Products are:

Not insured by the FDIC or any Federal Government Agency

Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate

Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested

Retirement Professionals are registered representatives of and offer brokerage products through Wells Fargo Clearing Services, LLC (WFCS). Wells Fargo Advisors is a trade name used by WFCS and Wells Fargo Advisors Financial Network, LLC, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company. Discussions with Retirement Professionals may lead to a referral to affiliates including Wells Fargo Bank, N.A. WFCS and its associates may receive a financial or other benefit for this referral.

Wells Fargo & Company and its affiliates do not provide legal or tax advice. Please consult your legal and tax advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your taxes are prepared.

Information published by Wells Fargo Bank, N.A., Wells Fargo Advisors, or one of its affiliates as part of this website is published in the United States and is intended only for persons in the United States.